Penelec customers will see a 5.1 percent increase in their electricity bills starting on June 1st. The twice-yearly “Price to Compare” will rise from 10.474 cents per kilowatt hour to 11.003 cents, and will be in effect through November 30th. The monthly electricity bill for a residential customer using one-thousand kilowatt hours will go up fourteen to sixteen dollars. Rates will increase for commercial and industrial customers as well.
The Price to Compare a year ago, when it was calculated quarterly, was 9.74 cents. Two years ago it was 9.703 cents, three years ago it was 8.443 cents, and four years ago the Price to Compare was 6.462 cents per kilowatt hour.
A drop in generation capacity, resulting in an 833 percent hike in the June 2024 energy auction price for the PJM Interconnection grid, is the primary cause of the increase. The price went from about $29 dollars for megawatts a day to $270.
Penelec serves 31 counties in western and central Pennsylvania.
